The Board of Directors of PolyOne Corporation has declared a quarterly dividend of $0.10 per share on the common stock outstanding, representing a 25 percent increase to the quarterly cash dividend and the fourth consecutive year of annual dividend growth. The dividend will be paid on the 7th of January, 2015, to stockholders of record on the 15th of December, 2014.

The president and chief executive director of PolyOne Corporation, Robert M. Patterson said, “We have increased our annual dividend 250 percent, since we initiated it in 2011.”

“This reflects the rapid pace at which we have strengthened our financial performance, and underscores the confidence we have in our ability to continue to achieve accelerated earnings expansion into 2015 and beyond,” he added.

An earlier report by the company stated that revenue of $1.01 billion was generated for the second quarter of 2014, compared to $1.04 billion in the second quarter of 2013. The company witnessed 38 percent increase in adjusted earnings per share to $0.51 for the second quarter of 2014, up from $0.37 in the second quarter of 2013.

Recently announced asset realignment actions taken in Brazil led to higher restructuring costs during the quarter. As a result, GAAP earnings per share totaled $0.33 for the second quarter of 2014 as compared to $0.39 in the second quarter of 2013, the company said.

PolyOne Corporation, headquartered in Ohio, is a global provider of specialized polymer materials, services, and solutions and has operations in thermoplastic compounds, specialty polymer formulations, color and additive systems, thermoplastic resin distribution, and vinyl resins. (GK)